These financial influencers from the LGBTQ+ community offer tips on finding affordable housing, starting a business, and finding resources for family planning.
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We talked to some financial influencers from the LGBTQ+ community about tips on finding affordable housing, starting a business, building generational wealth and finding resources for family planning. “A lot of cities host first-time business owner classes through their public libraries and state universities. Take a class, find a mentor, develop your business ideas like everybody else — then leverage your queer community to support you.”Travers Johnson : “When I first became interested in starting a business, it was hard to find queer possibility models. I didn’t see much LGBTQ+ representation in business media, and I didn’t know where to begin to find support to help me as a queer founder.
“On the ‘Queer Money®’ podcast, we’re publishing a bonus episode each Thursday that shares the most affordable LGBTQ+-friendly city in each state and its runner-up. The findings, so far, have been interesting, but with a little open-mindedness, we think there are more options for LGBTQ+ people than we tend to believe.”
“We also planned for about a year up to the actual move and spent a lot of time researching how we were going to swing the difference in the cost of living. Our side hustles helped us save up for it, and once we got here, things equalized. However, it won’t be the same for everyone. I would advise diving into deep research on not just the housing costs, but the overall cost of living, and trying to find people in those areas to talk to about what to expect.
Davis: “To build generational wealth, you must focus on financial literacy! It would be best to learn money rules or principles to manage your money, save and pay off debt properly, or else you will have an impossible and challenging road to generational wealth. When you take the time to learn financial literacy in the areas where you want to grow your wealth, it leaves room for fewer mistakes or money mismanagement.
What are some of the financial hurdles LGBTQ+ couples may face as they’re planning to grow their families? How would you advise preparing for those hurdles?
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